Irina Ushakova: we see high investor interest for commercial property
Senior Director, Head of Capital Markets, CBRE commented on the recent research on Russia Property investment:
Although real estate investments in Q2 2016 were mostly concentrated in residential development sites, we see high investor interest for commercial property. Currently, over €2.7 bn equity is available to invest into commercial real estate in Russia, however, conversion rate is very low mainly due to the remaining gap in pricing expectations between buyers and sellers. With prolonged stability of oil price and ruble we expect this gap to tighten. We expect €4.1 bn of investment deals to be closed in 2016, half of this volume has already been realized in H1 2016.